(a) The bylaws of a savings bank shall provide for annual meetings of the members to:
(1) Elect directors;
(2) Elect members, unless the charter of the savings bank provides for a different method of electing members; and
(3) Transact other business.
(b) The bylaws of a subsidiary savings bank shall provide for annual meetings of the stockholders to:
(1) Elect directors; and
(2) Transact other business.
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